“Started The Holiday Week Off Right”
Intraday Investments Online Trading Summary for Monday, July 02, 2001
First of all, as you may have noticed, we did not send out a trading summary on Friday, June 29. After Friday’s close, we made the decision to combine Friday’s trading summary with today’s because of the wild manner that many stocks closed on Friday’s one-hour extended Nasdaq trading session. If we would have reported on Friday, we felt that the true measure of how well or how poorly we did that day would have been skewed by the fact that many stocks moved several points within literally a several minute period just before 5 p.m. EDT on Friday. Therefore, we have included Friday’s trades with today’s trades to provide a more accurate representation of how our overnight trades actually performed.
Most of our intraday trades have been quite uneventful as we continue to see a lack of follow-through on both sides of the market (typical of a trading range). Here is a list of the round-trip trades we did during the past two trading days: ERTS short + 1.60 (still holding some short), QLGC short + 1.50 (avg. profit on two entries), SBL long + 0.22, LLY long + 0.80, AWE long + 0.36, IWOV short + 2.15 (covered into the tankage before the close on Friday), LU long + 0.18, NXTL long + 0.47, JDSU long + 0.08, GLW long + 0.35, NT long – 0.05, TARO short – 1.90 (very small share size on two separate entries), VTSS short (breakeven), OPWV long – 1.09, SFA long – 0.65, BVSN long – 0.12, RFMD short – 1.05, MOT long – 0.23, ERICY long – 0.10, RATL – 0.42, BRCD long + 0.13, QCOM short – 2.30, NVDA short + 0.60 (still holding short swing position too), CTXS short – 0.60.
In addition, we are holding the following positions overnight into Tuesday’s session: TDW long, NVDA short, ERTS short, EBAY short, short IBM July 110 calls, short NVDA July 85 calls. Most of these overnight positions also have a solid profit buffer, which we will realize once we cover.
We expect light volume through the first half of the week, due to the holiday, so we will be taking a conservative approach to our trading by taking profits quickly and trading with reduced share size.
Deron, Steve, and Ed
General Partners
intradayinvestments.com |
